Egrag Crypto has shared an analysis forecasting potential Stellar (XLM) price movement during the ongoing bull market. Based on historical patterns, XLM is expected to peak by March 2025.
Historical Patterns and Growth Expectations
Egrag Crypto's analysis highlights two bull runs for XLM in 2017 and 2021, each with approximately 3,800% growth. These surges began at support zones within a rising channel. The analyst anticipates similar behavior in the next market cycle, suggesting XLM is consolidating near the lower edge of the rising channel for another potential upward movement.
Current Position and Support Levels
The analysis shows Stellar is currently trading close to its lower support zone, marked by the 0.236 Fibonacci retracement level around $0.1. This level has been crucial in preventing deeper declines during recent consolidations.
Projected Resistance and Price Targets
Egrag Crypto predicts XLM could rally towards Fibonacci levels of 1.414 and 1.618, corresponding to $2.5 and $3 by March 2025. These levels align with the upper boundary of the rising channel.
Egrag Crypto remains optimistic about XLM's bullish trend, acknowledging that the projected targets depend on various market conditions and momentum.